Loan Modification Forum - LoanSafe.org - View Single Post - Final Housing Bill Passes House, Bush to Sign into Law

tiffany · 07-29-2008, 08:04 AM

Hi Moe and ***,

I have a slightly different question concerning the FHA Modernization. We are now current on our mortgage after completing a repayment plan with our Servicer (Saxon), our payment adjusted in July and is due to adjust every 6 months. We are lucky in the fact that we can currently afford the payments and our house is actually worth more that the balance of the mortgage. I also know that when this mess is over our house will again appreciate.

Our mortgager does not do modifications and our credit is trashed from our history of lates prior to and during the workout agreement, all we want to do is refinance into a good old fashion FHA. I do not want to give any of my profits to the government (I can not blieve that this is a requirement at the rediculous percentages). If I save on my monthly mortgage payment than I have more to spend for other things that goes back in to economy, good thing right?

I have taken responsibility for my mistake in refinancing this way (and I apologize, but I refuse to blame the President for this), we can afford our home (for now) and have paid for our mistakes. Is there any form of the old FHA around? Is the mondernization an addition to the old FHA loans or a complete replacement?

Tiffany

07-29-2008, 08:04 AM	#61 (permalink)
tiffany Senior Member Join Date: Oct 2007 Location: Ohio Posts: 65 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Final Housing Bill Passes House, Bush to Sign into Law Hi Moe and ***, I have a slightly different question concerning the FHA Modernization. We are now current on our mortgage after completing a repayment plan with our Servicer (Saxon), our payment adjusted in July and is due to adjust every 6 months. We are lucky in the fact that we can currently afford the payments and our house is actually worth more that the balance of the mortgage. I also know that when this mess is over our house will again appreciate. Our mortgager does not do modifications and our credit is trashed from our history of lates prior to and during the workout agreement, all we want to do is refinance into a good old fashion FHA. I do not want to give any of my profits to the government (I can not blieve that this is a requirement at the rediculous percentages). If I save on my monthly mortgage payment than I have more to spend for other things that goes back in to economy, good thing right? I have taken responsibility for my mistake in refinancing this way (and I apologize, but I refuse to blame the President for this), we can afford our home (for now) and have paid for our mistakes. Is there any form of the old FHA around? Is the mondernization an addition to the old FHA loans or a complete replacement? Tiffany